As wise investors know, dividend-paying stocks outperform non-dividend paying stocks over the long term, and real estate investment trusts, or REITs, have some of the highest yields in the market today. With these facts in mind, let’s take a look at three REITs with yields up to 8.9% that you could buy right now.
1. Artis Real Estate Investment Trust: 8.9% yield
Artis Real Estate Investment Trust (TSX: AX.UN) is one of the largest owners of commercial real estate in North America, with 247 properties comprising of approximately 26 million square feet of gross leasable area. It pays a monthly distribution of $0.09 per share, or $1.08 per share annually, giving its stock an 8.9% yield at today’s levels.
It is also worth noting that the company has maintained this monthly distribution since May 2008, but its increased amount of funds from operations, including 16.1% year-over-year growth to $93.57 million in the first half of fiscal 2015, could allow for a significant increase in the near future.
2. Choice Properties Real Est Invstmnt Trst: 5.8% yield
Choice Properties Real Est Invstmnt Trst (TSX: CHP.UN) is one of the largest owners of retail-focused properties in Canada, with 515 properties comprising of 41.4 million square feet of gross leasable area. It pays a monthly distribution of $0.054167 per share, or $0.65 per share annually, which gives its stock a 5.8% yield at current levels.
The company has maintained this monthly distribution since September 2013, but its increased amount of funds from operations, including 9.7% year-over-year growth to $151.88 million in the first half of fiscal 2015, could allow for an increase in the second half.
3. Allied Properties Real Estate Investment: 4.3% yield
Allied Properties Real Estate Investment (TSX: AP.UN) owns 146 office properties in urban markets across Canada, totaling approximately 10.45 million square feet of gross leasable area. It pays a monthly distribution of $0.1216 per share, or $1.46 per share annually, giving its stock a 4.3% yield at today’s levels.
Investors should also note that the company has increased its annual distribution for four consecutive years, and its increased amount of funds from operations, including 11.1% year-over-year growth to $68.63 million in the first half of fiscal 2015, could allow this streak to continue in 2016.
Which of these REITs should you buy today?
Artis, Choice Properties, and Allied Properties are three of the most attractive investment opportunities in the real estate industry today. All Foolish investors should take a closer look and consider initiating positions in one of them.
